Noel Gifts International

besides gift company, I think lover budget hotel that "makes babies" like Fragrance hotel will stand to benefit

Make baby at fragrance???
Have babies because of the jubilee gift???
No kidding.

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haha! think NTUC vouchers will be more useful?!

http://infopub.sgx.com/FileOpen/Announce...eID=317074

seems like this little fellow is in process of unlocking its value. nav up 33.8c.

it already announced a total of 1.5c dividend to be approved at this coming agm.

yet another special dividend will follow?

Is that the paullow in valuebuddies in position 18 in this yr annual report?
I wonder how he can buy so much in such illiquid counter?

(09-10-2014, 05:58 PM)ianphoon Wrote: Is that the paullow in valuebuddies in position 18 in this yr annual report?
I wonder how he can buy so much in such illiquid counter?

I just received the AR. I am curious too.
Hope Paul Low can enlighten us.

I see this question is for me.

Normally, I like to wait for people to sell then I will buy, especially for illiquid counters. No point pushing it up. The aim is to buy as much as comfort level without pushing price up. In this case, it took me more than 6 months to buy.

And personally i would like to initiate my position at a acceptable margin of safety.

-my estimation of noel sum of parts (tangibles and intangibles) is at least 45m, meaning that if I were to place myself in Alfred Wong's position, that's the price which I might accept if someone comes to offer that to me. different people might end up with different figures so that is a bit subjective.

-therefore at any price below 30c, to me, there is a decent margin of safety.

-in addition, one can expect a 1.5c dividend a year, which at a price below 30c, constitutes a yield which exceeds 5%, which I expect to be able to be maintained. any selling of its ppty parts, will come as a bonus, though not the main considerations of capital protection and cash generation via dividends, which is more important than anything else.

-as I continued to buy, came the goverment's plan to purchase 7m of gifts from noel. of course, this may be a one off purchase, but what's more important is the reputation of noel that even the government has the confidence to order so much.

-in my view, at a intrinsic value of 45c and a 1.5c yearly dividends, together with the goverment support and possibility of unlocking of gems inside, i see this as an investment which has very limited downside and a lot of upside, in the form of capital gain and dividend raises. for a 30m cap to double is much easier than for a 300m cap to double. but the risk is correspondingly higher, which can only reduced, not eliminated through thorough research.

-once one has identified a possible investment, really, the trick is patience, patience and more patience.

many thanks for reading.

http://paullowinvestmentjourney.blogspot.sg/

Recently got interested in this counter but my calculation is at 0.23 for a margin of safety. Duno is it too wishful thinking anot

(16-12-2014, 04:45 PM)CigarButts Wrote: Recently got interested in this counter but my calculation is at 0.23 for a margin of safety. Duno is it too wishful thinking anot

I am looking to increase my holdings in Noel.
Have queued at a higher price for months and nobody really want to sell to me.
You say leh

(16-12-2014, 05:54 PM)Dividend Hermit Wrote:

(16-12-2014, 04:45 PM)CigarButts Wrote: Recently got interested in this counter but my calculation is at 0.23 for a margin of safety. Duno is it too wishful thinking anot

I am looking to increase my holdings in Noel.
Have queued at a higher price for months and nobody really want to sell to me.
You say leh

Dun queue lah, if you want just buy direct from seller. If not just wait for correction.

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